Charles Gasparino, a Fox Business reporter, has issued a warning to <a href="https://coingape.com/breaking-xrp-holders-lawyer-finally-breaks-silence-on-his-3-big-announcements/" rel="noopener noreferrer nofollow">XRP holders</a>. He suggests that Ripple’s ongoing legal challenges could affect their wealth. As per Gasparino’s post on the X social network, XRP investors stand to suffer financial losses. He derives this from the uncertain victory of Ripple in the legal war against the SEC.
The relationship between Ripple and its token, XRP, has been up for review for a number of years. The legal conflict of the company against the United States Securities and Exchange Commission (SEC) is at the heart of this matter. The fact that Ripple has failed to resolve its legal issues with the SEC is the foundation of Gasparino’s pessimistic view. There are still uncertainties regarding the legal problems that have influenced XRP’s market performance.
<h2 id="strong-ripple-s-mixed-legal-outcomes-strong">Ripple’s Mixed Legal Outcomes</h2>
The legal fight made a huge turn after a decision by U.S. District Judge Analisa Torres. She discovered that Ripple’s institutional sales violated the law. However, she also held that secondary XRP sales did not qualify as investment contracts. Ripple’s partial victory saw XRP’s price spike in July for just a moment.
Although the ruling was in their favor, the price of <a href="https://coingape.com/price/xrp/#:~:text=XRP%20(XRP)%20Price%20Today&amp;text=Live%20Price%20of%20XRP%20(XRP,market%20cap%20stands%20at%20%2434%2C158%2C358%2C710." rel="noopener noreferrer nofollow">XRP</a> has yet to hold onto the gains. It briefly went beyond $0.8 but now is trading at $0.62. This drop came even though the entire market went up, with Bitcoin at the lead. Investor caution about the situation has caused XRP to have difficulty getting back to its post-ruling high.
<h2 id="strong-xrp-under-pressure-amid-sec-s-legal-pursuit-strong">XRP Under Pressure Amid SEC’s Legal Pursuit</h2>
It is suggested that the <a href="https://coingape.com/ripple-vs-sec-lawsuit-update-sec-considering-long-running-xrp-suit-largely-over/" rel="noopener noreferrer nofollow">SEC</a> will file an appeal to Judge Torres’s ruling. This action is among its wider policies regarding cryptocurrency regulation. The SEC’s offensive approach doesn’t stop at Ripple but also affects Ethereum. Gasparino thinks that XRP will remain under the control of the SEC.
Apart from the appeal, <a href="https://coingape.com/sec-ask-judge-torres-for-final-judgment-in-ripple-xrp-lawsuit/" rel="noopener noreferrer nofollow">Ripple</a> may be liable for a penalty in excess of $2 billion. This derives from the SEC’s most recent move. The pressure of such a financial nature could greatly affect Ripple’s activity and the market value of XRP. With the legal saga in progress, investors keep an eye on how it will develop for future Bitcoin.
Read Also: <a href="https://coingape.com/ftx-lawsuit-sam-bankman-fried-lied-under-oath-at-trial/" rel="noopener noreferrer nofollow">FTX Lawsuit: Sam Bankman-Fried lied under oath at trial</a>
&nbsp;
The post <a href="https://coingape.com/ripple-legal-woes-could-drain-xrp-holders-expert-claims/" rel="noopener noreferrer nofollow">Ripple Legal Woes Could Drain XRP Holders, Expert Claims</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Ripple Legal Woes Could Drain XRP Holders, Expert Claims

Table of Contents

Coingape News Media

Other articles published on Mar 28, 2024

BlockDAG Dominates with a Stellar 5000X ROI Against THORChain Lending & AAVE’s Forecasted Values

Top Altcoin’s Surge As Crypto Market Recovers – We Look at SHIB, Ethereum and InsanityBets as the...

Fetch.ai Price Prediction: FET Soars 7% On AGIX, OCEAN Merger As The Blowout 2.0 DOGE Presale Off...

Significant Supply Drop in PEPE on Exchanges Triggers Key Signal

3 Restaking Crypto Gems To Buy For Maximum Returns In April

Gradient Protocol Unveils Plans for Exciting Second Funding Phase With Fjord Foundry Following Su...

Join our free newsletter for daily crypto updates!